If you're a home buyer, you should always ask questions about the agent before you close the deal. There's nothing worse than signing the papers to purchase a home when you get there, only to find out later that you didn't have all the information you needed to make a well informed decision. Here are some questions you should always ask your Realtor before you buy a home. Home Buyer's Guide, November 2021 * Whether your real estate agent has been certified by the National Association of Realtors (NAR) or not. A realtor is an expert in the field of real estate and conducting transactions. He or she must be properly trained and certified by the National Association of Realtors, in order to conduct transactions impartially among buyers and sellers. For the best deals, get in touch with the best Orangeville realtors now. * What is the NAR's Standards of Practice? A realtor is supposed to have the same ethical standards as a mortgage broker, in terms of practicing professionalism. The realtor's fiduciary responsibility is to act in the best interest of the seller, not of the buyer. In order to be a member of the NAR, an agent must at all times maintain the highest standard of ethical behavior. * What is the NAR's regulatory framework? The National Association of Realtors has established a Code of Ethics that all agents must comply with. These laws include a statement of principles that cover the relationships between Realtors and their clients, and their commitment to disclosure of information necessary for making informed decisions on behalf of their clients. The NAR also has a Code of Professional Responsibility that every Realtor must complete and sign, detailing the methods by which he or she will carry out the duties required of him or her. While these may seem like fairly standard practices, they are not. As any non-member real estate agent can testify, the Code of Ethics is rarely read by most agents. This is because it contains so many vague and complex sections, making it nearly impossible to fully understand. The result is that many Realtors avoid reading the ethics code entirely. Instead, they pay lip service to the general principles outlined in the ethics code and try to remain general practitioners, using their Realtor card to provide general marketing services to the general public. Check out this website to get the services of the best Grand Valley Realtors. Other than being a generalist who sells residential properties, what kind of Realtor should you hire? As one of the first goals of the National Association of Realtors was to help consumers find a good real estate agent, it is easy to see why the Realtor code needs to be more specific. For instance, what types of advertising should a realtor not use? While there is no Realtor's National Certification Board required to become an agent, there are several reputable trade associations that can help a Realtor become certified. A great way to ensure your Realtor is doing business according to the law and to make sure that the Realtor is providing full disclosure of his or her obligations, is to require the agent to obtain a copy of the National Association of Realtors' Code of Ethics prior to listing a home. While many real estate brokers earn the title of "non-marketing" agents thanks to television commercials and press releases, real estate agents must perform the duties of marketing their services. Listing homes with the wrong agent could lead to legal action and negative publicity for the agency. While a Realtor may choose to stay away from the media, it is important for the Realtor to be active in the market. All Realtors need to be informed about changes in real estate law and how to remain compliant, whether they choose to participate or not. Find out more information about this topic here: https://en.wikipedia.org/wiki/Real_estate_broker.
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